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President Trump Names FRB, CFTC Nominees

President Donald J. Trump nominated Dan Berkovitz to serve as a CFTC Commissioner and Michelle Bowman and Richard Clarida to serve on the Board of Governors of the Federal Reserve System.

Mr. Berkovitz was nominated to serve the remainder of a five-year term. He is a partner at WilmerHale and vice chair of the American Bar Association Committee on Futures and Derivatives. Mr. Berkovitz previously was CFTC General Counsel and Deputy Representative to the Financial Stability Oversight Council. He also served as a senior staff lawyer for the Senate Permanent Subcommittee on Investigations and Deputy Assistant Secretary in the Department of Energy Office of Environmental Management.

Ms. Bowman was nominated to serve the remainder of a 14-year term set to expire in 2020. She is currently the Kansas State Bank Commissioner and previously was an executive at Farmers and Drovers Bank. Ms. Bowman served in government in several capacities including as a staffer for Senator Bob Dole, Counsel for several House committees, Director of Congressional and Intergovernmental Affairs at the Federal Emergency Management Agency, and Deputy Assistant Secretary and Policy Advisor to Secretary Tom Ridge at the Department of Homeland Security.

Mr. Clarida was nominated to serve a four-year term as Vice Chair of the FRB. Mr. Clarida is currently the Lowell Harriss Professor of Economics at Columbia University. He is also a Global Strategic Advisor for PIMCO and a member of the Council on Foreign Relations. Mr. Clarida previously served as Assistant Secretary for Economic Policy at the U.S. Treasury and was a Senior Staff Economist with President Ronald Reagan’s Council of Economic Advisers.